16 Ways To Save On The Top 10 Small Business Expenses

Your top three expenses are your employees’ wages, inventory, and rent. According to a new infographic from Bolt Insurance, 1 in every 5 dollars your business earns goes toward paying your employees. That’s a tough expense to cut, but there’s a lot you can do to reduce your costs on equipment, taxes, utilities, phone service and shipping.

You might not save a lot right off the bat, but these kinds of savings add up once you’ve implemented a fair few. Bolt offers us 16 ways to save on the top 10 business expenses. Some of the great tips include:

Reduce Your Hardware Footprint: Desktops use far more power than new laptops or tablets – when computers break, replace them with new models

Rent: Even though you have a fixed lease, given the state of the economy, you can negotiate

Accrue Interest: By making your bank deposits early in the day, you can get credit (and start accuring interest) that same day

Utilities: Change your light bulbs, turn off the lights when you’re not using them, shut down your computers at night and switch off your surge protectors to avoid any electricity vampires like cell phone chargers

Check out these tips and more right here:

These kinds of savings can definitely add up. How do you cut costs in your business? Tell us your tips in the comments below!

4 thoughts on “16 Ways To Save On The Top 10 Small Business Expenses”

Great Infographic. Personally I always have found that very first tip (splitting w/ other businesses) to be extremely beneficial. Finding local businesses to collaborate with is mutually beneficial and really can be a great savings.

Excellent infographic! I would like to point one more way to save some money (and be green!): buy electronic products that are Energy Star approved and toner cartridges that can be refilled. The upfront costs may be higher than less efficient products, but you’ll save money in the long run. Source: http://www.choosewhat.com/starticles/easy-ways-go-green-your-office